Corner Storefront
For Sale
$399,900
1301 E 2nd St, Odessa, TX 79761
Light Industrial-zoned corner property suited for renovation and commercial reuse.
Property Size2,141 SF
Lot Size0.05 Acres
Price / SF$186.78
Days on Market9
Property Features for 1301 E 2nd St
General Information
Standard status
Active
Size
2,141 SF
Lot size
0.05 Acres
Zoning
Light Industrial LI
Property Condition
Severity
Repairs Needed
Evidence
Needs a renovation
Additional Details
Asking Price
$399,900
Corner Location
Yes
Building Details
Year Built
1962
Listing Agency:
Pine & Beckett - Chris Beckett
(512) 796-4340
Listed By:
Chris Beckett · License #0439538
Source:
Raftercrossrealty
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 23 at 7:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pine & Beckett - Chris Beckett
Investment Insights
Based on property information with market context.
This storefront property occupies a corner at 1301 E 2nd St in Odessa, at the intersection of Dixie and 2nd St/Bus. 20. The building was formerly used as a gas station, and no tanks are on site. The property is zoned Light Industrial (LI) and is being offered in its present condition, with renovation needed.
Traffic counts reported through the RPR are 19,000 cars per day on 2nd/Bus. 20 and 11,500 cars per day on Dixie. The approximately 0.052-acre lot provides a compact setting for the existing commercial structure. No remediation reports or inspections are included, and the property is not currently in the ODC Building Redevelopment Bond Program.
Traffic counts reported through the RPR are 19,000 cars per day on 2nd/Bus. 20 and 11,500 cars per day on Dixie. The approximately 0.052-acre lot provides a compact setting for the existing commercial structure. No remediation reports or inspections are included, and the property is not currently in the ODC Building Redevelopment Bond Program.
Key Highlights
- Corner location at 1301 E 2nd St, Odessa, TX 79761
- Light Industrial (LI) zoning
- Former gas station with no tanks on site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,672
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$573,440
$573.4K
Cap Rate 7%
$409,600
$409.6K
Cap Rate 9%
$318,578
$318.6K
Market Conditions
NOI Build-Up for 2,141 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.1K $19.20/SF
− Vacancy
−$2.9K −$1.34/SF
EGI
$38.2K $17.86/SF
− OpEx
−$9.6K −$4.46/SF
NOI
$28.7K $13.39/SF
Area
Odessa, TX
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$573,440
Cap Rate 7%
$409,600
Cap Rate 9%
$318,578
Alternative Uses
Best Use
Specialty Retail
$409.6K
$358.4K – $477.9K
NOI $28,672 @ 7.0% cap · market cap 7.17%
Second Best
Retail
$340.9K
$298.3K – $397.7K
NOI $23,861 @ 7.0% cap · market cap 5.97%
Theoretical Best
Flex RnD
$3.11M
$2.72M – $3.63M
NOI $217,877 @ 7.0% cap · market cap 54.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,234
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Light Industrial-zoned corner property suited for renovation and commercial reuse.
Where is this storefront property located?
The property is located at 1301 E 2nd St Odessa, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Corner location at 1301 E 2nd St, Odessa, TX 79761; Light Industrial (LI) zoning; Former gas station with no tanks on site
